Bio-Rad Laboratories, Inc. (NYSE:BIO) Stock Position Lowered by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in shares of Bio-Rad Laboratories, Inc. (NYSE:BIO - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,224 shares of the medical research company's stock after selling 1,803 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.37% of Bio-Rad Laboratories worth $25,141,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BIO. Raymond James Financial Inc. purchased a new stake in Bio-Rad Laboratories during the fourth quarter worth approximately $5,119,000. HighTower Advisors LLC lifted its stake in Bio-Rad Laboratories by 3.9% in the fourth quarter. HighTower Advisors LLC now owns 6,250 shares of the medical research company's stock valued at $2,053,000 after buying an additional 237 shares during the last quarter. Picton Mahoney Asset Management lifted its stake in Bio-Rad Laboratories by 55.6% in the fourth quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company's stock valued at $32,000 after buying an additional 35 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of Bio-Rad Laboratories by 10.6% during the fourth quarter. Natixis Advisors LLC now owns 45,713 shares of the medical research company's stock worth $15,017,000 after purchasing an additional 4,390 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Bio-Rad Laboratories by 22.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,094 shares of the medical research company's stock worth $688,000 after purchasing an additional 388 shares during the period. Hedge funds and other institutional investors own 65.24% of the company's stock.

Bio-Rad Laboratories Price Performance

Bio-Rad Laboratories stock traded up $2.08 during midday trading on Thursday, reaching $249.34. 63,793 shares of the company were exchanged, compared to its average volume of 332,096. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of -3.27 and a beta of 0.95. The firm's 50-day simple moving average is $237.97 and its 200-day simple moving average is $267.88. Bio-Rad Laboratories, Inc. has a 1 year low of $211.43 and a 1 year high of $387.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.43 and a current ratio of 5.99.

Bio-Rad Laboratories (NYSE:BIO - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $2.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.73 by $0.81. Bio-Rad Laboratories had a positive return on equity of 4.32% and a negative net margin of 85.16%. The firm had revenue of $585.40 million for the quarter, compared to analyst estimates of $573.01 million. During the same period last year, the company earned $2.30 EPS. The firm's quarterly revenue was down 4.2% on a year-over-year basis. On average, analysts anticipate that Bio-Rad Laboratories, Inc. will post 10.81 EPS for the current year.

Analysts Set New Price Targets

BIO has been the subject of several recent research reports. Wells Fargo & Company decreased their price target on Bio-Rad Laboratories from $260.00 to $245.00 and set an "equal weight" rating for the company in a report on Monday, June 9th. Wall Street Zen cut Bio-Rad Laboratories from a "buy" rating to a "hold" rating in a research report on Sunday. Citigroup dropped their price target on Bio-Rad Laboratories from $400.00 to $350.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. UBS Group dropped their price target on Bio-Rad Laboratories from $355.00 to $310.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Royal Bank Of Canada dropped their price target on Bio-Rad Laboratories from $409.00 to $392.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $324.25.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.